HL Technology Group Limited provided earnings guidance for the six months ended June 30, 2013. For the period, The board of directors of the Company announced that based on a preliminary review of the unaudited management accounts of the Group for the six months ended 30 June 2013
and assessment of the information currently available, the Company is expected to record a loss for the six months ended 30 June 2013 as compared with the net profit recorded for the six months ended 30 June 2012. This was mainly attributable to, among other things, (i) the continuing challenges and uncertainties in the global economies and the Computer, Consumer electronics and Communication (3Cs) industries which had severely affected the
Group's businesses, especially those in connection with the relatively more traditional products, such as external signal cable assembly, internal signal cable assembly, antennas and connectors which resulted in lower demands from the Group's major customers; and (ii) the decrease in gross profit mainly due to the general increase in labor cost and the decrease in average selling price of some of the Group's products, especially the abovementioned products.